Zuber Issa close to selling stake in Asda
Zuber Issa is close to selling his £500 million stake in Asda to TDR Capital.
According to a report by Bloomberg, the billionaire is now in the final stages of negotiations to offload his 22.5% holding to TDR, which means the private equity firm would increase its stake to around two-thirds.
The deal could be announced in “the coming weeks”.
Issa and his brother Mohsin acquired the supermarket from US retail giant Walmart in 2021 in a £6.8 billion deal with the backing of TDR.
If Zuber Issa sells his stake in the business, Walmart is expected to retain a 10% holding and Mohsin Issa a stake of 22.5%.
The Sunday Telegraph reported back in February that Zuber Issa had been discussing selling his stake with retailers and advisors as he looked to focus on the brothers’ petrol forecourt business, EG Group.
